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The China Tire Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27.
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China Tire Market China Tire Market Research Report: Research Report: Forecast (2022 Forecast (2022- -27) 27) The China Tire Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27. www.marknteladvisors.com
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Market Insights The China Tire Market is projected to grow at a CAGR of around 6.5% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the exponentially rising population of China, its changing living standards, improving disposable income & purchasing power, and growing vehicle ownership. It is instigating automakers & tire manufacturers to increase their production capabilities to meet the burgeoning consumer demand for both automobiles & tires.
Key Driver: Low Production Cost of Tires & a Substantial Export Business Key Driver: Low Production Cost of Tires & a Substantial Export Business Since China has a low production cost for tires & continuous sales of passenger vehicles, the demand for tires is extensive in the country & attracting several prominent tire manufacturers to enter the tire industry. Additionally, the upliftment of foreign investments in manufacturing passenger vehicles and the massive export business of China also drive the China Tire Market.
What Components are encompassed within China Tire Market segmentation? By Type of Vehicles By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Buses and Trucks, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers, Three Wheeler), By By Demand Category Demand Category (OEM and Replacement), By By Type of Tires Type of Tires (Radial and Bias), By By Sales Channel Sales Channel (Dealer/Exclusive Outlets, Online and Others), , By By Season Season (all season, winter and Summer), By By Price Category Price Category (Low (Up to USD90), Medium (USD91-USD140, High (Above USD140)), By By Region Region (North East & East, North & North West, South West & South Central)
Competitive Benchmarking Kumho, Hangzhou Zongche, Prinx, Double Coin, Cheng Shin, Hankook, Traingle, Sailun Jinyu, Giti Tire, and Aelous Tyre Co. Ltd
Some of the Key Questions Answered in this Report: What are the growth projections for the years 2022-2027? Which market factors will aid in developing client and business strategies? What are the critical market opportunities for each segment enlisted in the research report? What are the primary growth tactics used by the major market players?
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